Bank Statement loans, Small business loans, working capital loans, equipment loans, equipment refinance loans, and more are available from $5,000 to $150,000 quickly and easily for cash flow, expansions, advertising, inventory, taxes, equipment, or any reason against just your company’s sales, existing assets, or receivables, with realistic and very flexible credit requirements!
Why use alternative small business loan services?
- Tough transactions are made routine through leaseback and bank statement loans program
- Application is Fast and easy. Generally only a one page application.
- Unsecured cash flow programs widely available!
- Quick approval and funding process. The revenue loan and gross sales loan are as fast as 2 to 3 business days. The equipment refinance loans can be completed as
quickly as 3 to 5 business days.
- No upfront or processing fee.
- Traditional programs have a high decline rate. We have a high approval rate.
- Your request will be handled by an experienced industry representative throughout the process.
- You only have to be in business for 3 months for the business bank statement loan program.
- Low credit scores accepted with no minimum credit scores for several programs.
Click below, or on our “Contact us” in the menu row at the top of the page and one of our highly experienced industry credit representatives will contact you to review your small business loans needs, funding options and immediately begin the funding process.
Call Toll Free: 855-787-1113 or Tel: 919-771-4177 today, or click here to Apply Today!
Small Business Loans Features:
- Sales Revenue based Cash Flow programs
- All businesses have revenue and cash flow, which allows all businesses to pre-qualify.
- Asset Based program
- Almost all businesses have either receivables, or equipment. Medical equipment, construction equipment, machinery, industrial equipment and computer equipment can be used.
Frequently asked questions:
Question: Which of the small business loans does my business qualify for?
Answer: While the requirements may vary for each program, minimal requirements will allow you to pre-qualify for a number of programs.
Question: How much can we qualify for with one of these small business loans programs?
Answer: The amount your business can qualify for depends on things such as business and personal credit, time in business, the amount of equipment owned, and the business’ gross sales.
Question: What if I need $100,000 instead of $50,000 and I only qualify for $50,000? How can I get to the $100,000 total?
Answer: Since there are several funding programs available, you can get $50,000 under the first program funding, then get another $50,000 under a second program. If a customer wishes, they can get the first $50,000 under the equipment refinance program, then get the second $50,000 under the Gross Sales Program, also known as the Bank Statement finance or Bank Statement lending program.
Question: Do you offer approvals that are just in the company name for which a guarantor is not required?
Answer: Yes, we offer what is referred to as “Corp Only” approvals. These are approvals for small business loans that are just in the company name. They are based on the time in business, business credit, and in some cases, bank statements or financial statements. A business must have over 5 years in business, strong business credit and strong financials to qualify for this funding.
Sample Small Business Loans Transaction:
Reno Dental Associates requested $75,000 for remodeling and debt consolidation. They completed the online application including listing of their receivables and equipment, including Dental delivery stations, X-ray equipment and hand pieces.
Reno Dental was approved for $50,000 based on their equipment and time in business. Loan docs were E-Mailed to the customer. The customer return overnighted the original documentation. A final verbal phone verification was completed with the customer and funds were wired to the customer within 24 hours.
The customer still wanted more funding. They provided their most recent 3 months business checking account statements and were approved for $30,000 based on their cash flow. Loan documents were E-mailed to the customer. The customer faxed back the completed loan documents. A final phone verbal confirmation was completed with the customer and funds were wired into their account within 48 hours. The customer obtained all the funding they needed.
Other advantages of our programs include significant tax advantages. Payments on the asset based loans may be 100% deductible. This program is set up in part as a lease which allows for this type of write off.
Assets are used as collateral but only a small part of the business owners assets are used for any transaction. In most cases, only a fraction of their equipment is used. This compares very favorably to most other programs for which either Real Estate, all of the company’s Accounts Receivables, or the entire assets of the business are held as collateral.
There are often significant tax advantages for the asset based program, comparable to the traditional home mortgage deduction. The equipment refinance is set up in part as a lease in many cases. This allows the customer to deduct the entire payment instead of just the interest portion of the payment. This give the customer additional options in lowering their net income figure.
Credit Corner – How valuable are Co-Signers? Co-signers are generally not as valuable to a loan application as most applicants think they are. The primary reason is that in many cases, co-signers are only offering their signature to help someone else obtain a loan. In these cases, the co-signer will not benefit from the loan, yet is taking a risk. If the loan goes in arrears, the co-signer is looked at to repay the loan. In many of these cases, the co-signer is far less motivated to pay back funds that went to another person or another company. Lenders are well aware of this and often do not value co-signers as much as the owners or primary signers.
There are some exceptions to this. If the co-signer on one of the small business loans in the portfolio is the father or mother of the primary signer, or spouse of the primary signer, that often carries more weight than if they are not a close relative. One exception to this is if the co-signer has a strong net worth. If a Co-signer is offered and they have a strong net worth, then the lender will be more interested in accepting such a co-signer. If a Co-Signer has a strong net worth and they want to back the primary signer, they should provide a personal financial statement. This will make approval more likely and the borrowers may be able to negotiate better terms.
Small business loan resources
SBA Community Blog and Forum – Blog and Forums by the SBA, Small business administration. Questions can be asked and answers provided.
Learn more about the types of financing. Choose one of the funding categories to begin:
- About us
- Accounts Receivables Financing
- Asset Based Loan
- Bank Statement Funding
- Cash Flow Loan
- Chiropractor practice loan
- Dental Practice Loan
- Equipment Acquisition
- Get out of Merchant Advance
- Medical Practice Loan
- Physician Loan
- The scenario is familiar with a business loan request. The borrower completes an application and is told they will hear back soon. They are often contacted back and asked for more information such as:
Business Tax Returns
Personal Financial Statements
Business Bank Statements.
If the business is financially strong, it is to their benefit to provide this information. If the business has this information on hand and it shows the business strong financially, then the business owner should see it as a positive to provide it, rather than being an extra burden of having to collect financial information. If the tax returns show a flat or increasing Gross and Net Income, it will help the request.
If a personal financial statement is requested and the statement shows a substantive Net Worth, this will also help the request. In some cases, the most recent business bank statements are requested as part of the review. If the company’s cash flow is strong, then providing the business bank statements will also strengthen the request.
Many applicants feel that they should not have to provide this information even if it is favorable and makes their company look stronger. It is the Lender’s capital and they have the right to request this information and have good reasons to do so. Lenders want to have a strong comfort level that the company they are lending to will have the financial strength to repay the capital they are providing. This has been a long standing conflict between lenders and applicants. Lenders request information and borrowers often don’t want to provide it. Borrowers often immediately complain without considering that providing the information could greatly help them.
Financial statements tell the lender much more than the 1 page application. The Tax Returns show the company’s cash flow in the last 2 years. The Personal Financial Statement shows the owner’s personal financial strength. If the company is small, the owner’s personal financial condition is closely tied to the strength of the business and the owner’s ability to help the company if there are hard times. The business bank statements show the company’s most recent cash flow which tells the lender what the company’s revenues are right now.
As a result, if a business is performing satisfactorily, owners should gladly provide financial information if a lender requests it.